E-Commerce with an emphasis on Social Technologies
Curious on your comments….
Let’s use a fictional example. Let’s say a niche agency, national, is expanding their lines to include some new products. The products have been market tested by a handful of agents and seem good to go. Now they want to recruit more agents and scale the new lines up. Thus the interest in a broker portal. Should we buy or build? Here’s a sample budget and timeline if outsourced to IdeaStar: $160k over about 12 months.
So pretty straight forward in concept, but a LOT of work and a tremendous amount of potential portal development landmines every step of the way:
If you do it in-house, perhaps you can test the waters at a lower cost, even understanding that this investment might be a throw-away if they then decide to outsource the full-blown portal. However, by building it in-house with little experience, and thus potentially a less than optimal agent experience in the pilot, they would be risking making a critical long-term business decision based on imperfect decision (something I have seen over and over in our business).
Based on either your personal experience, your industry observations, and/or your understanding of agent-driven insurance sales and marketing, any advise or guidance? Comment anonymously is fine, but it would be better if you’d give a little transparent background. Our industry desperately needs transparency.
Thanks for your input. GREATLY appreciated. Happy to answer follow-up questions.
Btw, I tweeted this article from Forresters yesterday. I think it’s not only relevant to this post, but it seems extremely relevant to the Life and Health insurance industry. I know a few CEO’s get it, but the vast majority don’t seem to.
Oh yeah, on a lighter note, my son was on ESPN again! Too funny. Daughter Kelle made the sign.
Oh, and the mission trips to Peru and the D.R. were fantastic…